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The SUV for the electric age – Polestar 3 premieres on 12 October

PR Newswire


GOTHENBURG, Sweden
, Sept. 28, 2022 /PRNewswire/ — Polestar (Nasdaq: PSNY) will premiere its first SUV, Polestar 3, at a launch event on 12 October 2022 in Copenhagen, Denmark.

Polestar 3 is a powerful, design-led electric performance SUV that appeals to the senses with a distinct shape and excellent driving dynamics. Built on a new all-electric technology base developed by and shared with Volvo Cars, it features the latest in high-tech components – like centralised core computing from NVIDIA and a long list of advanced safety systems from Volvo Cars and leading industry suppliers including Zenseact, Luminar and Smart Eye.

“We had to ask ourselves: ‘what should a modern SUV look like?’ Polestar 3 defines the SUV for the electric age and in designing it, we addressed some of the fundamentals of the archetype: proportions, stance and aerodynamics,” says Thomas Ingenlath, Polestar CEO.

Performance is key for Polestar, going deeper than just straight-line acceleration. At launch, all versions feature a rear-biased dual motor powertrain with electric torque vectoring via a dual clutch system on the rear electric motor. This is met by adaptive dual-chamber air suspension and active dampers as standard, which allows Polestar 3 to switch between comfort and firm suspension dynamics, and adjust the dampers to suit road conditions once every two milliseconds (500 Hz).

Thomas Ingenlath continues: “It’s this instant ability to transform from a comfortable cruiser to a sharp, agile performance car in less than the blink of an eye that makes Polestar 3 special as an electric performance SUV. It also benefits from a low centre of gravity and wide track for ultimate stability, and an exciting feeling behind the wheel.”

The optional Performance Pack enables maximum output of 380 kW and 910 Nm, along with Polestar Engineered chassis tuning for the active dampers and air suspension. Polestar’s signature Swedish gold details are also added, including valve caps, seat belts and a laser-etched interior light strip.

Featuring Polestar CEO, Thomas Ingenlath, and Polestar’s Head of Design, Maximilian Missoni, the launch event will commence at 19:00 CEST on 12 October. A live broadcast will be available at https://youtu.be/oga1XJAX8ms.


About Polestar

Polestar
Automotive Holding UK PLC (Nasdaq: PSNY)
 (“Polestar”)
 is
a Swedish premium electric vehicle manufacturer. Founded
 by Volvo Car AB (publ
.
) (together with its subsidiaries, “Volvo Cars”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”)
,
 in 2017,  Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar i
s headquartered in Gothenburg, Sweden, and its vehicles are
 currently
 available and on the road in markets across Europe, North America
,

China

 and Asia Pacifi
c. By 2023, the company plans
that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

Polestar
 has
 produce
d
 two electric performance cars. The Polestar 1
was built between 2019 and 2021 as
 a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world
 at the time
.

The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single
–
motor powertrains with as much as
350
 kW /
476
 hp and
680
 Nm.

From 2022
, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – the company’s first electric performance SUV
 which is expected to debut in October 2022
. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every
new
model, Polestar aims to produce a truly climate-neutral car by 2030.

In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brand’s vision for future sports cars. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026.


Forward-Looking Statements

Certain statements in this press release (“Press Release”) may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar’s ability to maintain agreements or partnerships with its strategic partners Volvo Cars and Geely and to develop new agreements or partnerships; (2) Polestar’s ability to maintain relationships with its existing suppliers, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (3) Polestar’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (4) Polestar’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production capacities; (5) competition, the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) Polestar’s estimates of expenses and profitability; (7) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (8) the possibility that Polestar may be adversely affected by other economic, business, and/or competitive factors; (9) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Polestar’s future business; (10) changes in regulatory requirements, governmental incentives and fuel and energy prices; (11) the outcome of any legal proceedings that may be instituted against Polestar or others; (12) the ability to meet stock exchange listing standards; (13) risks associated with changes in applicable laws or regulations and with Polestar’s international operations; (14) Polestar’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (15) delays in the design, manufacture, launch and financing of Polestar’s vehicles and Polestar’s reliance on a limited number of vehicle models to generate revenues; (16) Polestar’s ability to continuously and rapidly innovate, develop and market new products; (17) risks related to future market adoption of Polestar’s offerings; (18) risks related to Polestar’s distribution model; (19) the impact of the global COVID-19 pandemic, inflation, interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and logistical constraints on Polestar, Polestar’s projected results of operations, financial performance or other financial and operational metrics, or on any of the foregoing risks; and (20) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Polestar’s Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements
, even if new information becomes available in the future.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/the-suv-for-the-electric-age–polestar-3-premieres-on-12-october-301634945.html

SOURCE Polestar

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Caledonia Mining Corporation Plc: Purchase of Securities by Directors

ST HELIER, Jersey, Sept. 28, 2022 (GLOBE NEWSWIRE) — Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces that it received notice yesterday that non-executive directors of the Company have purchased securities as follows:

  1. Mr Leigh Wilson – 5,500 shares of no par value in the Company at a price per share of USD8.92.
  2. Mr Johan Holtzhausen – 1,025 depositary interests representing the same number of common shares of no par value in the Company at a price per depositary interest of GBP8.35. 

Following these transactions, Mr Wilson has an interest in 45,500 shares in the Company representing approximately 0.35% of the issued share capital of Caledonia; and Mr Holtzhausen has an interest in 22,050 shares in the Company representing approximately 0.17% of the issued share capital of Caledonia. Further details of the transactions are set out below.  

Caledonia Mining Corporation Plc

Mark Learmonth
Camilla Horsfall		 Tel: +44 1534 679 800
Tel: +44 7817 841 793
Cenkos Securities plc (Nomad and Joint Broker)

Neil McDonald
Pearl Kellie		 Tel: +44 131 220 9771
Tel: +44 131 220 9775
Liberum Capital Limited (Joint Broker)

Scott Mathieson/Kane Collings		 Tel: +44 20 3100 2000
BlytheRay Financial PR (UK)

Tim Blythe/Megan Ray		 Tel: +44 207 138 3204
3PPB (Financial PR, North America)

Patrick Chidley
Paul Durham		 Tel: +1 917 991 7701
Tel: +1 203 940 2538
Curate Public Relations (Zimbabwe)

Debra Tatenda		 Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor – Zimbabwe)

Lloyd Mlotshwa		 Tel: +263 (242) 745 119/33/39

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name

 Leigh Wilson
2 Reason for the notification
a) Position/status

 Non-executive director  
b) Initial notification/ Amendment

 Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name

 Caledonia Mining Corporation Plc
b) LEI

 21380093ZBI4BFM75Y51
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument

Identification code

 Common shares of no par value

G1757E113
b) Nature of the transaction

 Purchase of securities
c) Price(s) and volume(s) Price(s)

 Volume(s)
USD8.92

 5,500
d) Aggregated information

– Aggregated volume

– Price

5,500

USD8.92
e) Date of the transaction

 27 September 2022
f) Place of the transaction

 NYSE American LLC
     



NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED  WITH THEM

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name

 Johan Holtzhausen
2 Reason for the notification
a) Position/status

 Non-executive director
b) Initial notification/ Amendment

 Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name

 Caledonia Mining Corporation Plc
b) LEI

 21380093ZBI4BFM75Y51
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument

Identification code

 Depositary interests representing common shares of no par value

JE00BF0XVB15 
b) Nature of the transaction

 Purchase of securities
c) Price(s) and volume(s) Price(s)

 Volume(s)
GBP 8.35

1,025
d) Aggregated information

– Aggregated volume

– Price

1,025

GBP8.35 each
e) Date of the transaction

 27 September 2022
f) Place of the transaction

 AIM of the London Stock Exchange plc



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Bentley Systems and Genesys International Collaborate to Provide 3D Mapping Capabilities for Major Cities across India

Bentley Systems and Genesys International Collaborate to Provide 3D Mapping Capabilities for Major Cities across India

Enables First-ever 3D City Infrastructure Digital Twin Solution in India

EXTON, Pa., & MUMBAI, India–(BUSINESS WIRE)–
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, and Genesys International, a pioneer in advanced mapping and geospatial content services, today announced that Genesys’ 3D City Digital Twin Solution for Urban India – the first city digital twin project launched by any Indian company – will be powered by OpenCities 365, Bentley’s infrastructure digital twin solution for cities and campuses. This massive mapping and surveying project has begun and will capture most of urban India.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220927006072/en/

Digital Twin of G South Ward located in Worli, Mumbai, India. Image courtesy of Genesys International.

Digital Twin of G South Ward located in Worli, Mumbai, India. Image courtesy of Genesys International.

Genesys previously partnered with Bentley to successfully pilot an earlier digital twin solution that enabled the smart inventory management of telecom infrastructure using Bentley’s OpenTower iQ software. The robust solution provided operators with accurate and up-to-date information on planning and installing 5G towers, which saved time as well as the cost of conducting labor-intensive tower inspections.

“The Genesys 3D City Digital Twin Solution for Urban India, powered by Bentley’s OpenCities 365, will enable us to create and curate city-scale digital twins that empower government and private entities across India to improve their execution, efficiency, and strategizing capabilities using the 3D data,” said Sajid Malik, chairman and managing director at Genesys International. “This extraordinary solution enables capturing the as-built assets from the field and bringing them to the office in a reality model. We are impressed with the technical capabilities of Bentley’s digital cities portfolio and see it as a key differentiator that will help proactively improve our existing digital capabilities through a continued partnership between Bentley and Genesys International.”

Once a 3D digital twin for each of the cities is ready, engineering and application data layers can be added based on an end-user’s requirements. These 3D city digital twins will enable local governments to improve public services, including urban governance, disaster management, emergency response, and tourism. Additionally, it will help governments deliver more resilient and sustainable environments for their citizens through enhanced urban development, optimized road, rail, utility, and water network upgrades, location-based services, and other smart city initiatives. On the private corporate front, processes followed in verticals such as telecommunications and broadband infrastructure, city gas distribution, e-commerce, construction, autonomous navigation, renewable energy and various other verticals will be served and modernized by these 3D digital twins. The openness of Bentley applications provides Genesys further benefit because the software can connect with other asset management systems, such as third-party geospatial information systems, to capture and read that data.

Kaushik Chakraborty, Bentley’s vice president, regional executive, Asia Pacific, said, “We are extremely happy to contribute to this massive mapping project of national importance with our technology and services. The 3D cities digital twin project will enable our public agencies, service providers, and citizens to deliver or avail services, plan and execute projects, make informed decisions, and improve their quality of life.”

Chakraborty added, “The initiative will also drive the adoption of digital technology in the infrastructure segment. The output from this project will serve as the foundation for initiatives that we can launch to sustain the economy and environment.”

##

About Bentley Systems

Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.

www.bentley.com

About Genesys International

Genesys International Corporation Ltd. is an advanced mapping and geospatial content company. With a team of 2000+ professionals and three decades of rich geospatial experience, Genesys works with leading Big Tech, Utilities, Infrastructure, State and Local Governments including the United Nations.

Its Genesys Constellation is one of the most advanced sensor networks built for India aiding in the process of capturing and creating the Digital Twin of entire Urban India at high speeds and accuracy.

www.igenesys.com

© 2022 Bentley Systems, Incorporated. Bentley, the Bentley logo, AssetWise, iTwin, MicroStation, OpenCities, OpenCities 365, OpenTower, OpenTower iQ, ProjectWise, and Seequent are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries.

Press:

Pratvii Ponnappa

Vice President, Weber Shandwick

+91-98863 21381

[email protected]

Follow us on Twitter:

@BentleyAsia

Genesys Press:

Kenn Gonsalves

73-A SDF III, SEEPZ, Andheri(E), Mumbai – 400096

+91-22-4488-4488

[email protected]

KEYWORDS: United States India North America Asia Pacific Pennsylvania

INDUSTRY KEYWORDS: Engineering Technology Other Construction & Property Manufacturing Software Construction & Property Urban Planning

MEDIA:

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Photo
Photo
Digital Twin of G South Ward located in Worli, Mumbai, India. Image courtesy of Genesys International.
Photo
Photo
Oyster Maps, Genesys’ In-house-developed 3D digital twin platform showcasing multiple datasets in parallel on a single window. Image courtesy of Genesys International.
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Houlihan Lokey Appoints Ee Beng Soh as a Senior Advisor

Houlihan Lokey Appoints Ee Beng Soh as a Senior Advisor

Mr. Soh to help guide the expansion of the firm’s presence in Singapore

SINGAPORE–(BUSINESS WIRE)–
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Ee Beng Soh has been appointed as a Senior Advisor to the firm’s businesses in Singapore, as the firm continues to strengthen its operations in the region.

During his illustrious investment banking career spanning more than 24 years, Mr. Soh held several senior positions, including Managing Director and Head of Advisory for South East Asia at HSBC; Managing Director and Head of Investment Banking, Singapore at Rothschild; and Managing Director and Head of Investment Banking, Singapore at BNP Paribas. He currently serves as an independent director to the SGX-listed Pan-United Corporation Ltd.

“Ee Beng Soh is ideally suited to advise us on the development of our businesses in Singapore and his wealth of senior investment banking leadership will be hugely beneficial as we continue to expand our operations across South East Asia. With his counsel, we will be able to offer our world-class expertise to a wider audience of corporate clients and financial investors in the region,” commented Bill Peluchiwski, Co-Head of Houlihan Lokey Asia and Global Head of Industrials.

“Singapore is well-established as a world class financial hub, and enhancements to its insolvency framework since 2017 have now strengthened its position as a key regional hub for restructuring. As default rates increase across the region and the strength of Singapore’s framework is proven across more situations, this trend will continue,” commented Joseph Swanson, Co-Head of Houlihan Lokey Asia and Co-Head of International Restructuring.

“Houlihan Lokey is a recognised global leader across all of its businesses, and continues to enhance its impressive reputation across our region. That reputation is built upon outstanding capabilities and a strong corporate culture, both of which make the firm and this role highly attractive to me. I look forward to contributing to the continued success of the firm and its plans for the Singapore businesses,” commented Mr. Soh.

The Firm opened its Singapore office in 2013 with the establishment of the local Financial Restructuring team led by Managing Director Brandon Gale. Under his leadership, the team has advised on a number of recent high-profile assignments, including Pacific International Lines, Garuda, Malaysia Aviation Corporation, Noble Group, Pearl Engineered Solutions and Suzlon.

Recent transactions closed by the Corporate Finance team include the sale of Team-Metal (S) Pte. Ltd. to The Acrotec Group and the sale of A-Star Testing and Inspection to Phenna Group.

About Houlihan Lokey

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 investment bank for all global M&A transactions, the No. 1 M&A advisor for the past seven consecutive years in the U.S., the No. 1 global restructuring advisor for the past eight consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.

Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and approximately 275 experienced professionals located across the globe. Since its inception in 1988, the restructuring group has advised on more than 1,500 restructuring transactions with aggregate debt claims in excess of US$3.0 trillion.

Investor Relations

212.331.8225

[email protected]

Media Relations

+44 (0) 20 7747 1480

[email protected]

KEYWORDS: Asia Pacific Singapore

INDUSTRY KEYWORDS: Consulting Banking Professional Services Finance

MEDIA:

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Pharming Announces US FDA Acceptance for Priority Review of its New Drug Application for Leniolisib

PR Newswire


The FDA has assigned a PDUFA goal date of March 29, 2023 for the NDA submission based on randomized-controlled and long-term extension data for leniolisib as a treatment for APDS, a rare primary immunodeficiency

LEIDEN, The Netherlands, Sept. 28, 2022 /PRNewswire/ — Pharming Group N.V. (“Pharming” or “the Company”) (Euronext Amsterdam: PHARM) (NASDAQ: PHAR) announces that the US Food and Drug Administration (FDA) has accepted for priority review its New Drug Application (NDA) for leniolisib, an oral, selective phosphoinositide 3-kinase delta (PI3Kδ) inhibitor, to treat the rare primary immunodeficiency activated phosphoinositide 3-kinase delta syndrome (APDS) in adults and adolescents 12 years of age and older in the US. The FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of March 29, 2023, aligned with a Priority Review classification.

Submitted by Pharming on July 29, 2022, the NDA was supported by positive data from a Phase II/III study of leniolisib, which met its co-primary endpoints of reduction in index lymph node size and correction of immunodeficiency in the target population. Those results demonstrated the efficacy of leniolisib over placebo with a statistically significant reduction from the baseline size of participants’ index lymphadenopathy lesions (p=0.006) and normalization of their immune function, as evidenced by an increased proportion of naïve B cells from the baseline (p=0.002). Those findings indicate a reduction in disease markers associated with APDS, whose clinical hallmarks include significant lymphoproliferation and immune dysfunction, as well as increased risk of lymphoma. Furthermore, safety data from the study showed that leniolisib was well tolerated by participants. Also submitted as part of the application were data from a long-term, open-label extension clinical trial including 38 patients with APDS who were treated with leniolisib for a median of 102 weeks.


Anurag Relan, MD, MPH, Chief Medical Officer of Pharming, commented:
“The FDA’s acceptance for priority review of Pharming’s New Drug Application for leniolisib is a milestone that demonstrates our commitment to addressing unmet needs for patients with rare diseases. With FDA’s review, leniolisib moves further along the regulatory pathway as a potential disease-modifying targeted treatment for APDS in adults and adolescents 12 years of age and older in the US, who currently rely on supportive therapies such as antibiotics and immunoglobulin replacement therapy. We look forward to continuing to work closely with the FDA, as well as with regulatory authorities across the globe, to make leniolisib available to immunologists, hematologists, and their APDS patients.”

About Activated Phosphoinositide 3-
Kinase δ Syndrome (APDS)
APDS is a rare primary immunodeficiency that affects approximately 1 to 2 people per million. It is caused by variants in either of two genes, PIK3CD or PIK3R1, that regulate maturation of white blood cells. Variants of these genes lead to hyperactivity of the PI3Kδ (phosphoinositide 3-kinase delta) pathway.1,2 Balanced signaling in the PI3Kδ pathway is essential for physiological immune function. When this pathway is hyperactive, immune cells fail to mature and function properly, leading to immunodeficiency and dysregulation.1,3 APDS is characterized by severe, recurrent sinopulmonary infections, lymphoproliferation, autoimmunity, and enteropathy.4,5 Because these symptoms can be associated with a variety of conditions, including other primary immunodeficiencies, people with APDS are frequently misdiagnosed and suffer a median 7-year diagnostic delay.6 As APDS is a progressive disease, this delay may lead to an accumulation of damage over time, including permanent lung damage and lymphoma.4-7 The only way to definitively diagnose this condition is through genetic testing.

About Leniolisib
Leniolisib is a small-molecule inhibitor of the delta isoform of the 110 kDa catalytic subunit of class IA PI3K with immunomodulating and potentially anti-neoplastic activities. Leniolisib inhibits the production of phosphatidylinositol-3-4-5-trisphosphate (PIP3). PIP3 serves as an important cellular messenger activating AKT (via PDK1) and regulates a multitude of cell functions such as proliferation, differentiation, cytokine production, cell survival, angiogenesis, and metabolism. Unlike PI3Kα and PI3Kβ, which are ubiquitously expressed, PI3Kẟ and PI3Kγ are expressed primarily in cells of hematopoietic origin. The central role of PI3Kẟ in regulating numerous cellular functions of the adaptive immune system (B-cells and, to a lesser extent, T cells) as well as the innate immune system (neutrophils, mast cells, and macrophages) strongly indicates that PI3Kẟ is a valid and potentially effective therapeutic target for several immune diseases. To date, leniolisib has been well tolerated during both the Phase 1 first-in-human trial in healthy subjects and the Phase II/III registration-enabling study.

About Pharming Group N.V.
Pharming Group N.V. (Euronext Amsterdam: PHARM) (NASDAQ: PHAR) is a global biopharmaceutical company dedicated to transforming the lives of patients with rare, debilitating, and life-threatening diseases. Pharming is commercializing and developing an innovative portfolio of protein replacement therapies and precision medicines, including small molecules, biologics, and gene therapies that are in early to late-stage development. Pharming is headquartered in Leiden, Netherlands, and has employees around the globe who serve patients in over 30 markets in North America, Europe, the Middle East, Africa, and Asia-Pacific.

For more information, visit www.pharming.com and find us on LinkedIn

Forward-Looking Statements

This press release contains forward-looking statements, including with respect to timing and progress of Pharming’s preclinical studies and clinical trials of its product candidates, Pharming’s clinical and commercial prospects, Pharming’s ability to overcome the challenges posed by the COVID-19 pandemic to the conduct of its business, and Pharming’s expectations regarding its projected working capital requirements and cash resources, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to the scope, progress and expansion of Pharming’s clinical trials and ramifications for the cost thereof; and clinical, scientific, regulatory and technical developments. In light of these risks and uncertainties, and other risks and uncertainties that are described in Pharming’s 2021 Annual Report and the Annual Report on Form 20-F for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission, the events and circumstances discussed in such forward-looking statements may not occur, and Pharming’s actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements speak only as of the date of this press release and are based on information available to Pharming as of the date of this release.

Inside Information

This press release relates to the disclosure of information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

References

  1. Lucas CL, et al. Nat Immunol. 2014;15:88-97.
  2. Elkaim E, et al. J Allergy Clin Immunol. 2016;138(1):210-218.
  3. Nunes-Santos C, Uzel G, Rosenzweig SD. J Allergy Clin Immunol. 2019;143(5):1676-1687.
  4. Coulter TI, et al. J Allergy Clin Immunol. 2017;139(2):597-606.
  5. Maccari ME, et al. Front Immunol. 2018;9:543.
  6. Jamee M, et al. Clin Rev Allergy Immunol. 2019;May 21.
  7. Condliffe AM, Chandra A. Front Immunol. 2018;9:338.

For further public information, contact:

Pharming Group, Leiden, The Netherlands
Heather Robertson, Investor Relations & Corporate Communications Manager
T: +31 71 524 7400
E: [email protected]

FTI Consulting, London, UK

Victoria Foster Mitchell/Alex Shaw/Amy Byrne
T: +44 203 727 1000

LifeSpring Life Sciences Communication, Amsterdam, The Netherlands
Leon Melens
T: +31 6 53 81 64 27
E: [email protected]

US PR:

Ethan Metelenis

T: +1 (917) 882 9038
E: [email protected]

EU PR:

Dan Caley
T: +44 (0) 787 546 8942
E: [email protected]

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Chase Exceeds One Million U.K. Customers as It Marks First Anniversary

Chase Exceeds One Million U.K. Customers as It Marks First Anniversary

LONDON–(BUSINESS WIRE)–
More than one million U.K. customers now bank with Chase, just 12 months after opening its digital bank in the U.K.

On its first anniversary, Chase now holds over £10 billion* in customer deposits in the U.K., and has processed approximately 92 million card and payment transactions since launch.

Chase launched with a current account available via a simple and intuitive app, with 24/7 customer support, and a fuss free rewards programme. The bank offers customers a range of features to help them budget, manage money, spend and save. In the last six months, it has added a new savings product, ran a highly successful refer a friend programme, and made enhancements to its current account. More widely, the firm also closed on its acquisition of Nutmeg, the U.K.- based digital wealth management platform which will form part of an extended investments offer for Chase customers.

In addition to its customer offering, Chase in its first year launched Chase Rewarding Futures, its initiative investing in a series of community based programmes to make a positive and measurable impact on people’s lives. Chase’s first programme, in partnership with the National Literacy Trust, transformed 156 primary school libraries across the UK, improving access to books and reading materials for 55,000 school children and supporting 19,000 families and carers in 7 underserved communities across the U.K.. Chase was also the Official Banking Partner of the Birmingham 2022 Commonwealth Games.

One year after launch, the digital bank can also reveal insights into how customers are using and managing their money with Chase:

  • Customers have an average of £27,000 in their Chase Saver account compared to the national average for savings of £23,000**.
  • Customers are actively using round-ups, with customers saving an average of £13 per month from the small change on their transactions.
  • Chase’s 1% cashback on everyday debit card spending is proving hugely popular with customers. The top 3 transaction categories for customers earning cashback with their debit card are:

    1. Grocery and supermarket shopping
    2. Restaurants and fast-food outlets
    3. Public transport
  • Using a Chase debit card abroad is fee-free from Chase, customers can earn cashback whilst they spend abroad, and the bank offers highly competitive exchange rates. Outside the U.K., the top five countries where customers are spending their money are – the United States, Ireland, France, Spain, and the Netherlands.

Sanjiv Somani, U.K. CEO of Chase and Nutmeg, commented: “We set out to offer customers good value banking products with a straightforward experience delivered through an easy to use app, and we’re excited that consumers have responded so positively to our offer in our first year. This is just the beginning and, as we broaden our product offering and fully integrate the investment products offered by Nutmeg, we look forward to playing a wider role in the financial lives of our customers in the future and supporting the communities we serve.”

Over time, Chase intends to introduce a broad range of banking products for U.K. customers that meet their financial needs. That will include new features and enhancements to the Chase current account, new savings options for customers, and lending products, such as a Chase credit card.

Chase has 1,000 U.K. based employees and has more hires planned as it grows.

*Internal JPMC data, from September 2021 to end August 2022, where applicable.

**FCA data from its Financial Lives 2020, published in February 2021.

18+, UK residents. Cashback exceptions apply and is available for the first 12 months. Chase current account required for saver account. T&Cs apply.

About Chase in the U.K.

Chase is the consumer and commercial banking business of JPMorgan Chase & Co (NYSE: JPM), a leading global financial services firm with assets of $3.8 trillion and operations worldwide.

The U.K. bank is designed specifically to meet the needs of customers in the country, providing a range of banking products and features. In the UK, Chase is a trading name of J.P. Morgan Europe Limited. J.P. Morgan Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For more information, go to www.chase.co.uk.

Media contact

Chase UK – Julian Wadley: [email protected]

Tel: +44 20 3493 0608

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Gamida Cell Announces Entry into Commitment Letter with Highbridge for $25 Million Financing

Gamida Cell Announces Entry into Commitment Letter with Highbridge for $25 Million Financing

BOSTON–(BUSINESS WIRE)–Gamida Cell Ltd. (Nasdaq: GMDA), the global leader in the development of NAM-enabled cell therapies for patients with hematologic and solid cancers and other serious diseases, announced that it has entered into a Commitment Letter with certain funds managed by Highbridge Capital Management, LLC (“Highbridge”), pursuant to which Highbridge has committed to provide a $25 million senior secured, convertible term loan (the “term loan”).

The Commitment Letter does not represent a definitive credit facility and is subject to certain conditions, including the consummation of a Gamida Cell equity offering resulting in gross proceeds of not less than $20 million. The Commitment Letter provides, among other things, for: (i) a maturity date 24 months from the closing date for the term loan; and (ii) an annual interest rate of 7.50%, subject to increase to 12.00% upon the occurrence of certain events, payable on a quarterly basis, and, subject to certain conditions, payable in Gamida Cell’s ordinary shares which will be valued at 95% of the volume weighted average price over a period to be agreed upon. Obligations under the term loan will be secured by substantially all of our assets and the assets of our subsidiaries.

Subject to certain limitations, the lenders will be entitled to convert the term loan, together with a make-whole premium, equal to all accrued and unpaid, and remaining coupons due through the maturity date (the “make whole amount”), into Gamida Cell’s ordinary shares at a conversion price to be equal to a 35% premium to the arithmetic mean of the volume weighted average price of Gamida Cell’s ordinary shares for the three-trading day period commencing on September 28, 2022, which price is subject to adjustment in the event of ordinary share dividends, reclassifications and certain other fundamental transactions affecting the ordinary shares. Subject to certain conditions, the term loan will be immediately callable at 100% of the principal amount plus accrued and unpaid interest to the redemption date, plus the make whole amount, plus a redemption premium of 5%. Commencing four months after the closing date for the term loan, Gamida Cell will begin monthly repayments on the term loan of principal and accrued but unpaid interest on such amount with the make-whole amount. Such installment payments can be paid to Highbridge in either cash or stock.

Gamida Cell expects to pay certain fees and expenses of Highbridge and to enter into a registration rights agreement with Highbridge, pursuant to which Gamida Cell will be required to file a registration statement registering the resale by Highbridge of any ordinary shares of Gamida Cell issuable pursuant to the terms of the term loan within 30 days after the closing date for the term loan.

About Omidubicel

Omidubicel is an advanced cell therapy candidate developed as a potential life-saving allogeneic hematopoietic stem cell (bone marrow) transplant for patients with blood cancers. Omidubicel demonstrated a statistically significant reduction in time to neutrophil engraftment in comparison to standard umbilical cord blood in an international, multi-center, randomized Phase 3 study (NCT0273029) in patients with hematologic malignancies undergoing allogeneic bone marrow transplant. The Phase 3 study also showed reduced time to platelet engraftment, reduced infections and fewer days of hospitalization. One-year post-transplant data showed sustained clinical benefits with omidubicel as demonstrated by significant reduction in infectious complications as well as reduced non-relapse mortality and no significant increase in relapse rates nor increases in graft-versus-host-disease (GvHD) rates. Omidubicel is the first stem cell transplant donor source to receive Breakthrough Therapy Designation from the FDA and has also received Orphan Drug Designation in the US and EU.

Omidubicel is an investigational stem cell therapy candidate, and its safety and efficacy have not been established by the FDA or any other health authority.For more information about omidubicel, please visit https://www.gamida-cell.com.

About GDA-201

Gamida Cell applied the capabilities of its nicotinamide (NAM)-enabled cell expansion technology to develop GDA-201, an innate NK cell immunotherapy candidate for the potential treatment of hematologic and solid tumors in combination with standard of care antibody therapies. GDA-201, the lead candidate in the NAM-enabled NK cell pipeline, has demonstrated promising initial clinical study data. Preclinical studies have shown that GDA-201 may address key limitations of NK cells by increasing the cytotoxicity and in vivo retention and proliferation in the bone marrow and lymphoid organs. Furthermore, these data suggest GDA-201 may improve antibody-dependent cellular cytotoxicity (ADCC) and tumor targeting of NK cells. There are approximately 40,000 patients with relapsed/refractory lymphoma in the US and EU, which is the patient population that will be studied in the currently ongoing GDA-201 Phase 1/2 clinical trial.

For more information about GDA-201, please visit https://www.gamida-cell.com. For more information on the Phase 1/2 clinical trial of GDA-201, please visit www.clinicaltrials.gov.

GDA-201 is an investigational cell therapy candidate, and its safety and efficacy have not been established by the FDA or any other health authority.

About NAM Technology

Our NAM-enabling technology is designed to enhance the number and functionality of targeted cells, enabling us to pursue a curative approach that moves beyond what is possible with existing therapies. Leveraging the unique properties of NAM (nicotinamide), we can expand and metabolically modulate multiple cell types — including stem cells and natural killer cells — with appropriate growth factors to maintain the cells’ active phenotype and enhance potency. Additionally, our NAM technology improves the metabolic fitness of cells, allowing for continued activity throughout the expansion process.

About Gamida Cell

Gamida Cell is pioneering a diverse immunotherapy pipeline of potentially curative cell therapy candidates for patients with solid tumor and blood cancers and other serious blood diseases. We apply a proprietary expansion platform leveraging the properties of NAM to allogeneic cell sources including umbilical cord blood-derived cells and NK cells to create therapy candidates with potential to redefine standards of care. These include omidubicel, an investigational product with potential as a life-saving alternative for patients in need of bone marrow transplant, and a line of modified and unmodified NAM-enabled NK cells targeted at solid tumor and hematological malignancies. For additional information, please visit www.gamida-cell.com or follow Gamida Cell on LinkedIn, Twitter, Facebook or Instagram at @GamidaCellTx.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including with respect to the ability of Gamida Cell and Highbridge to agree on mutually acceptable loan terms, whether Gamida Cell will offer the ordinary shares or consummate an equity offering, timing of initiation and progress of, and data reported from, the clinical trials of Gamida Cell’s product candidates (including omidubicel), regulatory filings submitted to the FDA (including the potential timing of the FDA’s review of the BLA for omidubicel), commercialization planning efforts, and the potentially life-saving or curative therapeutic and commercial potential of Gamida Cell’s product candidates (including omidubicel), and Gamida Cell’s expectations for the expected clinical development milestones set forth herein. Any statement describing Gamida Cell’s goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to a number of risks, uncertainties and assumptions, including those related to the impact that the COVID-19 pandemic could have on our business, and including the scope, progress and expansion of Gamida Cell’s clinical trials and ramifications for the cost thereof; clinical, scientific, regulatory and technical developments; and those inherent in the process of developing and commercializing product candidates that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such product candidates. In light of these risks and uncertainties, and other risks and uncertainties that are described in the Risk Factors section and other sections of Gamida Cell’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (SEC) on August 15, 2022, as amended, and other filings that Gamida Cell makes with the SEC from time to time (which are available at http://www.sec.gov), the events and circumstances discussed in such forward-looking statements may not occur, and Gamida Cell’s actual results could differ materially and adversely from those anticipated or implied thereby. Although Gamida Cell’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Gamida Cell. As a result, you are cautioned not to rely on these forward-looking statements.

1CIBMTR 2019 – allogeneic transplants in patients 12+ years with hematological malignancies.

2Gamida Cell market research

For investors:

Courtney Turiano

Stern Investor Relations, Inc.

[email protected]

1-212-362-1200

For media:

Heather DiVecchia

Director, Investor Relations and Corporate Communications

[email protected]

1-617-892-9083

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Oncology Health Stem Cells General Health Pharmaceutical Biotechnology

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Gamida Cell Announces Pricing of Approximately $20 Million Public Offering of Ordinary Shares

Gamida Cell Announces Pricing of Approximately $20 Million Public Offering of Ordinary Shares

BOSTON–(BUSINESS WIRE)–
Gamida Cell Ltd. (Nasdaq: GMDA), the global leader in the development of NAM-enabled cell therapies for patients with hematologic and solid cancers and other serious diseases, today announced the pricing of a follow-on public offering of 12,905,000 of its ordinary shares at a public offering price of $1.55 per share for aggregate gross proceeds of $20 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, Gamida Cell has granted the underwriters a 30-day option to purchase up to an additional 1,935,750 ordinary shares at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about September 30, 2022, subject to satisfaction of customary closing conditions.

Gamida Cell intends to use the net proceeds from this offering, together with its existing cash and cash equivalents and trading financial assets: for (i) commercial readiness activities to support potential launch of omidubicel, if approved; (ii) the continued clinical development of its NK product candidates, including GDA-201; and (iii) general corporate purposes, including general and administrative expenses and working capital.

Piper Sandler & Co. and JMP Securities, a Citizens Company, are acting as joint book-running managers for this offering.

A registration statement on Form S-3 (File No. 333-259472) relating to the ordinary shares has been filed with the Securities and Exchange Commission and declared effective on April 1, 2022. This offering will be made only by means of a prospectus supplement. Copies of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained, when available, from: Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at [email protected],or JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, California 94111, Attention: Prospectus Department, by calling (415) 835-8985, or by e-mail at [email protected]. Investors may also obtain these documents at no cost by visiting the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Gamida Cell

Gamida Cell is pioneering a diverse immunotherapy pipeline of potentially curative cell therapy candidates for patients with solid tumor and blood cancers and other serious blood diseases. We apply a proprietary expansion platform leveraging the properties of NAM to allogeneic cell sources including umbilical cord blood-derived cells and NK cells to create therapy candidates with potential to redefine standards of care. These include omidubicel, an investigational product with potential as a life-saving alternative for patients in need of bone marrow transplant, and a line of modified and unmodified NAM-enabled NK cells targeted at solid tumor and hematological malignancies.

Forward Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including with respect to the use of proceeds and timing and consummation of the closing of the public offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those that are described in the Risk Factors sections of the preliminary prospectus supplement for such offering filed with the SEC on September 27, 2022, and the documents incorporated by reference therein, including without limitation the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 15, 2022, the accompanying prospectus and other filings that Gamida Cell makes with the SEC from time to time (which are available at http://www.sec.gov), any of which could cause the events and circumstances discussed in such forward-looking statements to not occur on the terms described or at all. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Gamida Cell undertakes no obligation to update any such forward-looking statements after the date hereof, except as required by law.

Investor:

Courtney Turiano

Stern Investor Relations, Inc.

[email protected]

1-212-362-1200

Media Inquiries:

Heather DiVecchia

Director, IR and Corporate Communications

[email protected]

1-617-892-9083

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Health Oncology Stem Cells Other Health

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Global Business Leaders Say Hybrid Cloud is Critical to Modernization, Yet Security, Skills and Compliance Concerns Impede Success

PR Newswire

  • New IBM Transformation Index: State of Cloud helps business leaders to assess gaps in their transformation journey
  • More than half of respondents are currently concerned about security, while 53% believe ensuring compliance in the cloud is currently too difficult
  • Nearly 70% surveyed say their team lacks the skills needed to sufficiently manage cloud environments


ARMONK, N.Y.
, Sept. 28, 2022 /PRNewswire/ — New global market research from IBM (NYSE: IBM) revealed that more than 77% of respondents have adopted a hybrid cloud approach which can help drive digital transformation, yet the majority of responding organizations are struggling with the complexity to make all their cloud environments work together. As organizations face skills gaps, security challenges and compliance obstacles, less than one quarter of respondents across the globe manage their hybrid cloud environments holistically – which can create blind spots and put data at risk.

The IBM Transformation Index: State of Cloud commissioned by IBM and conducted by independent research firm, The Harris Poll, was created to help organizations map their cloud transformation and empower them to self-classify their progress. Built on a foundation that leverages insights from experienced cloud professionals, enterprises can use the Index to gain measurable metrics that can help quantify their progress and uncover areas of opportunity and growth. The Index consisted of more than 3,000 business and technology decision-makers from 12 countries and across 15 industries including financial services, manufacturing, government, telecommunications and healthcare, to understand where organizations are advancing, or merely emerging, on their transformation journeys.

The Index points to a strong correlation between hybrid cloud adoption and progress in digital transformation. In fact, 71% of those surveyed think it’s difficult to realize the full potential of a digital transformation without having a solid hybrid cloud strategy in place. At the same time, only 27% of those surveyed possess the necessary characteristics to be considered as “advanced” in their transformation. So, why the disconnect? A sampling of findings include:

  • Compliance: Businesses believe ensuring compliance in the cloud is currently too difficult – especially as we see enforcement of regulatory and compliance requirements heat up across the globe.
  • Security: While businesses have embraced a variety of security techniques to secure workloads in the cloud, concerns about security still remain.
  • Skills: As organizations face the realities of a talent shortage, they are failing to implement a holistic hybrid cloud strategy – which can create gaps in security and compliance and cause risk across cloud environments.

“As we see regulatory requirements grow across the globe, compliance is top of mind for business leaders. This concern is even greater for those in highly regulated industries. Yet at the same time, they are facing a growing threat landscape – one that demands holistic management of their multicloud environments to avoid the risks of a Frankencloud – an environment that’s so disconnected, it’s difficult to navigate and can be nearly impossible to secure, particularly against third and fourth party risks,” said Howard Boville, Head of IBM Cloud Platform. “An integration strategy to bring together these different piece parts is what we believe separates the leaders from the rest of the pack – the alternative is to pay the price of the Frankencloud.”

“The key value of cloud for businesses is rapid access to innovative technologies, data sources, and applications required to navigate current disruptions and transform businesses. No individual cloud can address all of an enterprise’s requirements, so they must be able to use and effectively control hybrid cloud assets across many locations. IBM with its focus on providing a holistic hybrid cloud strategy is well positioned to help organizations address the security, data management and compliance complexities that can prevent them from taking full advantage of cloud innovation,” says Rick Villars, Group Vice President of Worldwide Research at IDC. 

The 2022 IBM Transformation Index: State of Cloud revealed:

Lack of the right skills is inhibiting progress 
When it comes to managing their cloud applications, 69% of respondents say their team lacks the skills needed to be proficient. This is a major roadblock to innovation, with more than a quarter of respondents saying skills and talent shortages are impeding their business’s cloud objectives. The effects don’t stop here – these limitations are also preventing organizations from leveraging the power of partnerships. More than one-third of respondents say a lack of technical skills is holding them back from integrating ecosystem partners into cloud environments. This challenge is even greater in the US, where nearly 40% admit to this lack of skills – pointing to the need for talent.

Exposure to cyberthreats continues to lurk despite embracing security techniques
While more than 90% of responding financial services, telecommunications and government organizations have adopted security tools such as confidential computing capabilities, multifactor authentication and more, gaps remain that are preventing organizations from driving innovation. In fact, 32% of overall respondents cite security as the top barrier for integrated workloads across environments and more than one quarter of respondents agree security concerns present a roadblock to achieving their cloud business goals.

Security concerns can even hold organizations back from unlocking the full potential of partnerships. As potential security gaps can cause third and fourth party risks to loom, respondents say data governance (49%) and cybersecurity (47%) are the top challenges to fully integrating their business ecosystem into the cloud. In Brazil, cyberthreats are an even greater concern to ecosystem innovation — 51% say cybersecurity risks pose a major challenge for businesses that want to integrate business ecosystem partners into cloud environments.

Regulatory and compliance requirements remain center stage causing businesses to pause
With regulations on the rise, so too are compliance challenges. 53% of respondents believe that ensuring compliance in the cloud is currently too difficult and nearly one-third cite regulatory compliance issues as a key barrier for integrating workloads across private and public IT environments. In financial services, for example, more than a quarter of respondents agree that meeting industry requirements is holding them back from fully achieving their cloud objectives. These challenges span the globe and are especially prevalent in countries such as Singapore, China, India and Japan.

Based on the Index, IBM will launch an interactive tool to serve as a continual source of feedback for organizations to measure their transformation progress. With the ability to help companies assess how they fare against others, the tool will allow them to identify areas where transformation is stalled and where it may be excelling – unlocking the ability to diagnose and act with efficiency even against the real-world of complexity of cloud transformation.

IBM will make the IBM Transformation Index: State of Cloud tool publicly available in the coming months, aiming to provide business leaders with valuable benchmarking insights that can inform their hybrid cloud strategies. The IBM Institute for Business Value also published a new report, “A Comparative Look at Enterprise Cloud Strategy” with an action guide for how leaders can use the Index to help advance their organizations’ digital transformation.

Methodology:
This survey was conducted online in 12 countries (US, Canada, UK, Germany, France, India, Japan, China, Brazil, Spain, Singapore, Australia) by The Harris Poll on behalf of IBM from June 8th, 2022 to July 17th, 2022. The survey was conducted among 3,014 IT and business professionals in companies with annual revenue over $500M who have deep knowledge of their organization’s Cloud strategy. The IBM Transformation Index: State of Cloud was developed by combining the data from 25+ question batteries of various formats across 9 Cloud-related dimensions that were informed by input from industry experts. 

About IBM
IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com.

CONTACT:
Kaveri Camire
IBM Communications
[email protected]

Suzanne Cross

IBM Communications
[email protected] 

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SOURCE IBM

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MindMed Announces Pricing of Public Offering of Common Shares and Warrants

PR Newswire


NEW YORK
, Sept. 27, 2022 /PRNewswire/ — Mind Medicine (MindMed) Inc. (“MindMed”) (NASDAQ: MNMD) (NEO: MMED), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, today announced the pricing of its underwritten public offering of 7,058,823 common shares, together with accompanying warrants to purchase 7,058,823 common shares. The combined offering price to the public of each common share and accompanying warrant is $4.25. Each common share will be sold in combination with an accompanying warrant, and each warrant is exercisable to purchase one common share. The accompanying warrant will be immediately exercisable and has an exercise price of $4.25 per common share and expires five years from the date of issuance.

All of the securities are being sold by MindMed.  The gross proceeds from the offering to MindMed are expected to be approximately $30 million, before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on or about September 30, 2022, subject to customary closing conditions. No distribution under the underwritten public offering shall occur in Canada or to a person resident in Canada.

RBC Capital Markets and Cantor are acting as lead joint book-running managers for the offering. Oppenheimer & Co. is acting as a joint book-running manager for the offering.

A shelf registration statement relating to this offering was filed with the Securities and Exchange Commission (“SEC”) on May 4, 2022, and declared effective by the SEC on May 16, 2022.  The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.  A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov or on SEDAR at www.sedar.com.  A final prospectus supplement and accompanying prospectus will be filed with the SEC and will be available on the SEC’s website at www.sec.gov or on SEDAR at www.sedar.com.  When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting RBC Capital Markets, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at [email protected] or by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, NY 10022, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About MindMed

MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders. We are developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine and acetylcholine systems.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED.

Forward-Looking Statements

Certain statements in this news release related to MindMed constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release includes, but is not limited to, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information, such as those risks discussed or referred to herein and the risks described in MindMed’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Report on Form 10-Q for the period ended June 30, 2022 under headings such as “Special Note Regarding Forward-Looking Statements,” and “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other filings and furnishings made by MindMed with the securities regulatory authorities in all provinces and territories of Canada which are available under MindMed’s profile on SEDAR at www.sedar.com and with the SEC on EDGAR at www.sec.gov. Except as required by law, MindMed undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

For Media: [email protected]

For Investors: [email protected]

 

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SOURCE Mind Medicine (MindMed) Inc.